Deutsche Bank withdraws from bidding for Wirecard bank: source

FRANKFURT (Reuters) – Deutsche Bank has withdrawn from the bidding process for Wirecard Bank amid concerns over valuaton, a source familiar with the matter said on Friday.

Deutsche Bank and a spokesman for Michael Jaffe, Wirecard’s insolvency administrator, declined to comment.

(Reporting by Hans Seidenstuecker, writing by Edward Taylor, editing by Vera Eckert)